This is 0.9 percent (±12.9 percent)* below the revised April estimate of 1,281,000 and is 4.7 percent (±8.9 percent)* below the May 2018 rate of 1,332,000.

The Commerce Department reported Monday that spending fell 0.8% in May, the first decline since a 1.3% drop in November, to a seasonally adjusted annual rate of $1.29 trillion.

 · Residential construction spending skidded 1.8% to a seasonally adjusted annual rate of $500.9 billion, lowest since December 2016. Public construction dropped.

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Construction spending up 0.9% in May on surge in homebuilding By Angel In Home loans contents freddie mac mortgages gse purchased 50% Principal write-downs crisis acting director edward demarco Residential investment fueled The major factors in this surge of homebuilding.

The Commerce Department said Tuesday that construction was started at a seasonally adjusted annual rate of 1.27 million homes and apartments, a decline of 0.9% from April when construction starts had risen a strong 6.8 %. Applications for building permits, a good sign of future activity, edged up 0.3% in May to an annual rate of 1.29 million.

In May, the estimated seasonally adjusted annual rate of public construction spending was $340.6 billion, 0.9% below the revised April estimate of $343.7 billion.

Spending In April was revised up from a flat reading to a small gain of 0.4%. The weakness in May was widespread with spending on single-family homes and apartments down 0.6% while nonresidential construction fell 0.9%. spending on government projects also dropped 0.9%, led by a decline in construction spending by the federal government.

The 0.9% drop in government construction projects was the first decline in five months. Spending by state and local governments fell 0.6% while construction spending by the federal government was.

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The 0.9% drop in government construction projects was the first decline in five months. Spending by state and local governments fell 0.6% while construction spending by the federal government was.

 · Single-family construction spending rose to a $270.1 billion annual pace in November, up by 1.9%. It was the highest monthly annual rate since November 2007. This is in line with the strong readings of single-family housing starts and solid builder confidence .

Spending In April was revised up from a flat reading to a small gain of 0.4%. The weakness in May was widespread with spending on single-family homes and apartments down 0.6% while nonresidential construction fell 0.9%. Spending on government projects also dropped 0.9%, led by a decline in construction spending by the federal government.

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